The company Meta has announced that it will lift its ban on cryptocurrency advertising, in place for several years, which prevented cryptocurrency companies from serving ads for their services on Facebook and Instagram.

"We are doing this because the cryptocurrency landscape has continued to mature and stabilize in recent years and has seen more government regulations setting clearer rules for their industry," the company explains.

The ban on cryptocurrency advertising had been in place since January 2018. However, a slight relaxation had already been carried out in May 2019. This ban prevented companies working in the fields of cryptocurrencies and blockchain from being able to access potential customers who were on Meta's social networks.

Meta says, however, that the company will continue to reject cryptocurrency ads from companies that fail to submit one of the 27 regulatory licenses the company accepts.

"This is a game-changer for mass adoption"

Henry Love, managing partner at blockchain investment firm Fundamental Labs, said the new policy was very positive for the industry. According to him, it will allow more individuals to be able to access cryptocurrency: “With more openness and transparency on what cryptocurrency companies can do, we will see more adoption for the cryptocurrency industry and the metaverse. than ever before. This is a game changer for mass adoption. "

Emad Hasan, CEO of Retina AI, a start-up that helps brands target high-value customers on social media, said the new policy would also be a boon for companies working on the blockchain: “These companies were in a situation where they couldn't advertise on Facebook. They couldn't get people to convert fiat currency into cryptocurrency. This will allow the average everyday person to do so. "

Over the past year, Facebook has dramatically reduced its cryptocurrency ambitions.

After showcasing its plans to create a digital currency and wallet in 2019, Facebook faced strong backlash from lawmakers and regulators around the world.

The company finally managed to launch its digital wallet product "Novi" in October, but the digital currency "Diem" is still not available to the public.

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